From the following Trial Balance, prepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date:
From the following Trial Balance, prepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date:
| Heads of Accounts | L.F. | Dr. (₹) | Cr. (₹) |
|
Capital Plant and Machinery Land and Building Sales Furniture and Fixtures Trade Expenses Cash at Bank Wages and Salaries Repairs Purchases Opening Stock Sundry Debtors Sundry Creditors Purchases Return Rent Discount Drawings Bad Debts Input CGST A/c Input SGST A/C Input IGST A/C Output CGST A/C Output SGST A/C Output IGST A/C |
 |
– 1,00,000 1,20,000 – 50,000 30,000 2,50,000 60,000 10,000 6,00,000 2,00,000 1,40,000 – – – 8,000 10,000 4,000 10,000 10,000 5,000 – – – |
5,00,000 – – 9,00,000 – – – – – – – – 1,50,000 10,000 22,000 – – – – – – 5,000 5,000 15,000 |
The Stock on 31st March, 2023 was valued at ₹ 1,40,000.
[Gross Profit – ₹ 1,90,000; Net Profit – ₹ 1,60,000; Balance Sheet Total – ₹ 8,00,000.]
Anurag Pathak Changed status to publish October 12, 2023
